No, I’m not talking about that “stimulus check”. Nor do I mean those pennies, sometimes nickles or dimes, that you find spilled out of someone’s pocket in front of the 7/11. I am talking about real found money. You are going through the pockets of an old jacket, and there inside the inside vest pocket, folded up nice and neat, is a sort of crisp $50 bill. A quick memory search reveals that a couple of years or so ago, you don’t wear jackets that much, you put the bill there in anticipation of needing it to pay your share of some trip you and T were taking. But that is all history now.
So what do I do with it? Back in those spendthrift days, $50 was a night out dancing, or the movies for two, or dinner before a Laker game. It was pocket money. But that was before the plan. And the monthly budget that developed from the plan. I am semi-retired (more on that another time) and the plan is that T join me in that state as quickly as possible. Hence the budget.
Budget for T
Monthly income less monthly expenses less minimal entertainment costs less coincidental repair or replacement expenses less automatic savings deduction to ING account and Ameritrade Save Yourself account less $10 pocket money = semi-retirement in three years.
Income stream = monthly paycheck + stoozed money market, CD, saving accounts, loan to the corportation interest earnings + off the book cash bonuses + 5 real estate rental property rents + part time real estate jobs.
Expenses = Share of monthly rent + $25 towards weekly food + difference between monthly rental income and mortgage/insurance/repairs + medical bills for recent gall bladder surgery + ING savings + Save Yourself Ameritrade auto deduct + self-directed IRA + $ for occasional eat out/movie out/trip to casino out (more on this later too)
So the first question is when should I share the news and let her decide about her half? Because that’s the way it is now. We share everything 50/50. So now the question is what do I do with my $25? Boy, I can tell you I am suddenly a lot less excited. $25 is half a tank of gas, it’s a week worth of groceries, it’s my weekly expensed money, it’s the bill for two weeks worth of dry cleaning, it’s . . . not much in other words. Wait I know where I can use it. I’ll put into my newly formed freedom account, thanks JD.